On January 1, You Invest $10,000 in an Open-End Mutual

question 55

Multiple Choice

On January 1, you invest $10,000 in an open-end mutual fund selling for $25 per share that has a 2% load, 1.5% management fee and 1% 12b-1 expense s. If the fund NAV appreciates to $28 by the time you sell it on December 31, what was your return on investment?

• A) 9.76%
• B) 11.2%
• C) 8.7%
• D) 14%

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